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• Full Year Core Revenue: $281.2 million, a growth of 7% compared to 2023.

• Fourth Quarter Revenue: $76.2 million, up from $70.5 million in Q4 2023.

• GAAP Loss for 2024: $42.7 million or $1.41 per share.

• Non-GAAP Income for 2024: $15 million or $0.49 per share.

• Fourth Quarter GAAP Gross Margin: 41.8%.

• Fourth Quarter Non-GAAP Gross Margin: 44.2%.

• Fourth Quarter Adjusted EBITDA: $774,000.

• Fourth Quarter Non-GAAP Income: $1.2 million or $0.04 per share.

• Cash and Equivalents: $828.6 million at year-end.

• 2025 Core Revenue Guidance: Approximately $310 million, representing 10% growth year-over-year.

• 2025 Expected Non-GAAP Gross Margin: Slightly exceed 40%.

• 2025 Expected Non-GAAP Operating Margin: Approximately minus 15%.

• 2025 Expected GAAP EPS: Loss of approximately $1.95 per share.

• 2025 Expected Non-GAAP Loss: $0.65 per share.

• 2025 Expected Cash Position: Approximately $780 million.

• Warning! GuruFocus has detected 3 Warning Signs with FLGT.

Release Date: February 28, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Fulgent Genetics Inc (NASDAQ:FLGT) reported a 14% year-over-year growth in the fourth quarter and slightly exceeded their annual core revenue guidance of $280 million.

• The company has shown growth in its laboratory service business and has good momentum going into 2025.

• Fulgent Genetics Inc (NASDAQ:FLGT) has made significant advancements in therapeutic development, including the initiation of Phase 2 clinical trials for FID-007 and the clearance of an investigational new drug application for FID-022.

• The company has launched new products, such as the exome and genome RISE, which could potentially increase diagnostic yield by as much as 30%.

• Fulgent Genetics Inc (NASDAQ:FLGT) has formed a new partnership with Foundation Medicine, which is expected to enhance their precision diagnostics offerings.

Negative Points

• The company reported a GAAP loss of $42.7 million for 2024, translating to a loss of $1.41 per share.

• Fulgent Genetics Inc (NASDAQ:FLGT) expects a non-GAAP operating margin of approximately minus 15% for 2025 as they continue to invest in business growth.

• The company's biopharma services, while showing growth, still experience large swings quarter-to-quarter, indicating variability and potential instability.

• Fulgent Genetics Inc (NASDAQ:FLGT) anticipates a cash burn of approximately $25 million for their therapeutics development business in 2025.

• The company has not included potential revenue from new partnerships, such as with Foundation Medicine, in their 2025 guidance, indicating uncertainty in realizing these opportunities.